Material Possible Default definition

Material Possible Default means any Possible Default relating to Section 7.17 hereof.
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Material Possible Default means any Possible Default relating to Section 7.17 hereof or Section 9.8 of the Guaranty.
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Examples of Material Possible Default in a sentence

  • Until the Termination Date, the Company will cause its treasurer, or in his absence another representative of the Company designated by the treasurer, to promptly notify the Lenders and the Administrative Agent whenever any Material Possible Default may occur or any warranty made in Article IV hereof or elsewhere in this Agreement or in any Related Writing may for any reason cease in any Material respect to be true and complete.

  • As long as any indebtedness of Borrower remains outstanding hereunder, Borrower will cause its treasurer, or in his absence another representative of Borrower designated by the treasurer, to promptly notify Bank whenever any Material Possible Default may occur or any warranty made in Article V hereof or elsewhere in this Agreement may for any reason cease in any Material respect to be true and complete.

  • The ESS Board is then required to formally approve Jaya’s appointment tothe ESS Board, which the Clerk will arrange.

  • If following the occurrence and during the continuance of a Material Possible Default or an Event of Default, Pledgor receives any of the foregoing directly, Pledgor agrees to hold such property in trust for the benefit of Agent and the Banks, and to promptly surrender such property to Agent.

Related to Material Possible Default

  • Material Default means a material breach of this Framework Agreement and/or, breach by the Supplier of any of the following Clauses: Clause 8 (Warranties and Representations), Clause 9 (Prevention of Bribery and Corruption), Clause 13 (Statutory Requirements and Standards), Clause 14 (Non-Discrimination), Clause 15 (Provision of Management Information), Clause 16 (Management Charge), Clause 17 (Records and Audit Access), Clause 22 (Data Protection), Clause 23 (Freedom of Information) and Clause 31 (Transfer & Sub-contracting);

  • Material Event of Default means the occurrence of an Event of Default (as defined in the Senior Unsecured Loan Agreement) under any of the following sections of the Senior Unsecured Loan Agreement:

  • Actionable Default means the occurrence of any of the following:

  • Servicing Default The meaning assigned in Section 6.01 of the Servicing Agreement.

  • Reporting Default means a Default described in Section 6.01(d).

  • Material Event has the meaning set forth in Section 3(i) hereof.

  • Potential Default means the occurrence of any event or condition which, with the giving of notice, the passage of time, or both, would constitute an Event of Default.

  • Lease Event of Default shall have the meaning specified in Section 17.1 of the Lease.

  • MI Default has the meaning given to it in paragraph 6.1 of Framework Schedule 9 (Management Information);

  • Incipient Default means any occurrence that is, or with notice or lapse of time or both would become, an Event of Default.

  • Environmental Event shall have the meaning set forth in Section 12.2.1.

  • Financial Covenant Event of Default has the meaning specified in Section 8.01(b).

  • Major Default means any Event of Default occurring under Sections 4.1(a), 4.1(c), 4.1(l), or 4.1(p) of this Note.

  • Additional Default means any provision contained in any document or instrument creating or evidencing Indebtedness of the Borrower or any of its Subsidiaries which permits the holder or holders of such Indebtedness to accelerate (with the passage of time or giving of notice or both) the maturity thereof or otherwise requires the Borrower or any of its Subsidiaries to purchase such Indebtedness prior to the stated maturity thereof and which either (i) is similar to any Default or Event of Default contained in Article VIII of this Agreement, or related definitions in Section 1.1 of this Agreement, but contains one or more percentages, amounts or formulas that is more restrictive or has a xxxxxxx xxxxx period than those set forth herein or is more beneficial to the holder or holders of such other Indebtedness (and such provision shall be deemed an Additional Default only to the extent that it is more restrictive or more beneficial) or (ii) is different from the subject matter of any Default or Event of Default contained in Article VIII of this Agreement, or related definitions in Section 1.1 of this Agreement.

  • Event of Insolvency means, for any Person:

  • Unmatured Event of Default means any event that, if it continues uncured, will, with lapse of time, notice or lapse of time and notice, constitute an Event of Default.

  • Potential Event of Default means any event which, with the giving of notice or the lapse of time or both, would constitute an Event of Default.

  • Financial Default means the total cessation or partial suspension of operations due to insolvency, with or without the filing of a bankruptcy petition by a tour operator, Cruise line, or airline.

  • Collateral Event of Default has the meaning set forth in Section 13.01(b).

  • Funding Default as defined in Section 2.22.

  • Material Events means any of the events listed in Section 3 of this Continuing Disclosure Undertaking.

  • Preliminary Default Notice shall have the meaning ascribed thereto in Article 13 of this Agreement;

  • Financing Default means an event which would constitute (or with notice or lapse of time or both would constitute) an event of default (which event of default has not been cured) under or would otherwise violate or breach (i) any financing arrangement of the Company or any of its Subsidiaries in effect as of the time of the aforementioned event, and any extensions, renewals, refinancings or refundings thereof in whole or in part; and (ii) any provision of the Company's or any of its Subsidiary's constitutional documents.

  • Specified Event of Default means any Event of Default pursuant to Section 9.01(a), Section 9.01(f) or Section 9.01(g).

  • Responsible Officer means, when used with respect to the Trustee, any officer within the corporate trust department of the Trustee, including any vice president, assistant vice president, assistant secretary, assistant treasurer, trust officer or any other officer of the Trustee who customarily performs functions similar to those performed by the Persons who at the time shall be such officers, respectively, or to whom any corporate trust matter is referred because of such person’s knowledge of and familiarity with the particular subject and who shall have direct responsibility for the administration of this Indenture.

  • Note Event of Default means any “Event of Default” specified in Section 5.1 of the Indenture.